Fed’s Yellen: macroprudential policy must balance rules and discretion

yellen-federal-reserve

Hard macroprudential policy rules must be augmented with discretionary powers for supervisors in order to effectively manage systemic risk, Janet Yellen, the vice chair of the Federal Reserve's board of governors, said on Monday.

In her maiden speech as Fed deputy, delivered in Colorado, Yellen said fixed macroprudential policy rules must be complemented by the ability for regulators to intervene at their discretion. "Fixed rules will diminish the need for policymakers to make the difficult

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.